Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
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European equity markets remained largely flat Wednesday as investors digested fresh corporate earnings and inflation data. Germany’s DAX rose 0.3%, France’s CAC 40 held steady, and the UK’s FTSE 100 slipped 0.1%.
Markets have stabilized following renewed optimism over a temporary U.S.-China trade truce, which helped recover losses triggered by tariff concerns. Volatility has decreased as attention shifts to earnings reports and macroeconomic indicators.
German inflation slowed to 2.2% in April, down from 2.3% in March, supporting expectations that the European Central Bank (ECB) will continue its rate-cutting cycle. ECB policymaker Francois Villeroy de Galhau signaled in an interview that further easing is likely by summer, noting that Europe is unlikely to face U.S.-style inflation pressure stemming from Trump-era tariffs.
In corporate news, Burberry posted stronger-than-expected Q4 sales and full-year adjusted operating profit. German energy firm E.ON reported an 18% jump in Q1 adjusted EBITDA, while Spain’s Ferrovial saw core earnings rise 19%, fueled by U.S. toll highway operations. Danish pharmaceutical firm Lundbeck raised its full-year guidance after a 16% revenue increase. French train maker Alstom projected improved margins for 2025/26 after exceeding cash flow expectations.
However, Spanish telecom Telefonica posted a Q1 net loss after write-downs in Latin America.
Meanwhile, oil prices retreated slightly from recent highs. Brent crude dropped 0.5% to $66.32 and WTI slipped 0.5% to $63.38, after API data showed a 4.3 million barrel increase in U.S. crude inventories last week. This raised concerns about sluggish demand despite a temporary easing in global trade tensions. Official U.S. Energy Information Administration data, due later, will offer further insight into the supply-demand balance.
